Suspicious transactions tied to potential money laundering in Nepal’s banking and financial sector have surged by 49 percent in 2024, according to the Financial Information Unit (FIU) of Nepal Rastra Bank.
In its latest data, the FIU reported 9,304 suspicious transactions in 2024, up from 6,255 cases recorded in 2023. These transactions were flagged under the provisions of the Money Laundering Prevention Act, 2063, by various reporting entities including banks, financial institutions, and other regulated businesses.
Out of the suspicious reports received in 2024, the FIU conducted detailed analysis on 1,894 cases, forwarding 1,086 reports to relevant law enforcement and regulatory agencies for further investigation. An additional 808 reports were archived for potential future examination, pending new or supplementary data.
The volume of cross-border transaction reports also rose during this period, from 1.783 million in 2023 to 1.972 million in 2024, indicating growing international financial activity under scrutiny.
Meanwhile, the number of entities connected to the FIU’s goAML system — a digital platform for tracking and reporting financial crimes — grew significantly from 1,496 in 2023 to 1,905 in 2024. These entities include banks, insurance companies, securities firms, remittance providers, and government oversight agencies.
The sharp rise in suspicious transactions and reporting entities reflects increasing vigilance as well as growing concerns over illicit financial flows, prompting calls for stronger regulatory enforcement and inter-agency cooperation.
